July 11, 2002 -- IMF Staff Papers - Volume 49, Number 2, 2002 - Explaining Russia's Output Collapse
This paper explores sources of the output collapse in Russia during transition. A modified growth-accounting framework is developed that takes into account changes in factor utilization that are typical of the transition process. The results indicate that declines in factor inputs and productivity were both important determinants of the output fall. The contribution of the productivity drop was critical, but significantly smaller than previously reported.